Okatie Crossing owner pursues development

The Sembler Co. has let its option to buy about 230 acres at U.S. 278 and S.C. 170 for a megamall lapse, but landowner Horne Properties is already talking to a number of huge department stores interested in locating there and plans to begin development as soon as possible.

Sembler still owns about 41 acres along U.S. 278 and plans to develop that area, said Director of Construction Greer Scoggins. He did not say what would be located there. But its option to buy 230 acres at Okatie Crossings expired in April, though Sembler would still like to develop there if the state Legislature passes an incentive package.

But now, Horne Properties isn't so eager to let Sembler back in and has turned down offers from other developers in favor of building a mall and apartments alone, said President Douglas Horne.

"We're working away at trying get the development lined up," Horne said. "We think the economy is getting better and it's a good time to do a project there. We're excited about it."

He said the company has already had interest from a number of retailers, including Kroger, J.C. Penny's, Kohl's, Target and Dick's Sporting Goods, among others.

"We've always had high interest from Belk, Barnes & Noble and Dillard's has always wanted a store there," he said. "We're talking to Regal Cinemas for a big theater there and Lowe's Home Improvement."

The stores would take up the front lots along U.S. 278 and S.C. 170 with multi-family apartments likely being built on the back lots, he said.

When Horne Properties gave Sembler the option to purchase 230 acres in 2008, the economy was less stable but now Horne is more optimistic about developing.

He said permits still have to be lined up but he would like to begin development as soon as possible. And the Knoxville, Tenn., company isn't new to the game.

"We've developed 140 shopping centers throughout the country in 26 states," he said. "We've developed over 20 million square feet. We've been in business 30 years."

Scoggins said The Sembler Co. would still "love to build the full development," if given the chance and an incentive package it has been seeking.

Horne is attending an annual convention for shopping center developers in Las Vegas this week and said there has been a great deal of interest in the Okatie project there.

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